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Orangewood makes strategic investment in Servpro West Coast DRT; calling for your best exits of 2023

Morning Hubs!

This is Chris, on for Wire Wednesday.

How’s your year starting out? What’s new in PE land? How are things looking on the exit front? That’s the big question on everyone’s mind: when will exit activity start picking up again and from that, distributions begin flowing back into LP coffers?

• Orangewood Partners makes strategic investment in property restoration company.
• Bruin Capital exits sports marketing company.
• Deal of the Year Awards nominations now open, send us your best exits.

Awards

It’s that time again! We’re opening up our annual Deal of the Year awards for the best exits of 2023. Visit here for contest rules and other information, including lists of past winners. And hit me up with questions at christopher.w@pei.group (but please read the rules PDF that can be downloaded, which should answer most of your questions).

Construction

Orangewood Partners is announcing a strategic investment in Servpro West Coast DRT, which provides property cleaning, restoration and reconstruction services. The deal includes equity rollover and participation by existing management and company founders.

An exit

Bruin Capital is selling a majority stake in Two Circles, a sports marketing company, to Charterhouse Capital Partners. The business will continue to be led by co-founder and CEO Gareth Balch, alongside current management, which will reinvest in the company as part of the deal, Bruin said in a statement.

More sports

Platinum Equity acquired youth sports apparel suppliers Georgia-based Augusta Sportswear Brands and North Carolina-based Founder Sport Group. The companies provide team uniforms and off-field performance wear and fan apparel for the youth and recreational sports markets.

That’s it for me! Hit me up with tips n’ gossip, feedback or book recommendations at christopher.w@pei.group or find me on LinkedIn.

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

Pictet Alternative Advisors will use a buy-and-build strategy to increase Pareto’s geographic coverage in a UK facilities management market that is growing from increased sustainability needs, Edmund Buckley, head of direct private equity, told PE Hub Europe.

Sterling Group, one of the market’s oldest private equity firms, launched a sixth flagship buyout offering to invest in the industrials sector. (Buyouts)

Connecticut Retirement Plan and Trust plans to commit $1.7 billion to private equity in 2024, placing a major focus on increasing its exposure to small and mid-market funds. (Buyouts)

Delivering the circular economy: Humankind’s rapacious appetite for resources is reaching a tipping point and calls for a rethink in how we design and deliver critical infrastructure. (Infrastructure Investor)

London-based logistics specialist Clarion Partners Europe has raised its first fund exclusively targeting investments in the UK, PERE can reveal.

Lexington Partners has broken the record for the largest secondaries fund ever raised, closing on $22.7 billion for its latest flagship fund. (Secondaries Investor)